Abstract:

Apparatus and methods for calculating a currency shipment amount for a banking center. The currency shipment amount may correspond to currency having a uniform denomination. The apparatus and methods may involve formulating a historical mix fraction for the uniform denomination; calculating a future order period desired starting balance based on the historical mix fraction; and calculating the currency shipment amount based on the future order period desired starting balance and a banking center ending balance.

Description:

FIELD OF TECHNOLOGY

Aspects of the disclosure relate to managing an inventory of stocked items. In particular, the disclosure relates to managing different denominations of legal tender (bills and coins) in a retail banking business.

BACKGROUND

Retail banking is one example of an industry that involves maintenance of an inventory that includes a mix of multiple products. In some industries, those products are referred to using stock keeping units (SKUs).

In retail banking, customer"s are served at banking centers. A banking institution maintains an inventory of bills and coins that will meet the daily needs of the banking center"s customers. Seven denominations of cash are commonly required by customers: 1, 2, 5, 10, 20, 50 and 100 dollars. A cash vault may be used to hold excess inventory for the banking center and for multiple other banking centers. Each banking center, therefore, may have a cash vault that is designated to serve that banking center. (A cash vault is often located in the same geographic area as the banking centers that it serves.) The banking center orders cash from the cash vault (which may be referred to as the “Servicing Cash Vault”) according to a preset schedule. An order may require that cash be shipped from the banking center to the servicing cash vault (a “ship-out”). An order may require that cash be shipped from the servicin ...

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